Radiology Business March 8, 2024
An imaging vendor has finally executed a merger deal following months of delays and a lawsuit to push along the closing.
Investment firm GigCapital Global announced the finalization of its acquisition of QT Imaging on March 4. The latter is a Novato, California-based maker of medical technology including the QT Imaging Breast Acoustic CT Scanner.
GigCapital Global, meanwhile, specializes in taking other companies from private ownership to public trading. Leaders there formed a “special purpose acquisition corporation”—a blank check, shell company listed on a stock exchange for the purpose of acquiring an entity—in late 2022. “GigCapital5 Inc.” and QT Imaging have now combined into a single company carrying a combined equity value of $151 million (according to previous estimates).
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